- This topic has 99 replies, 21 voices, and was last updated 16 years, 10 months ago by
Raybyrnes.
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AuthorPosts
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October 23, 2007 at 7:47 AM #10698October 23, 2007 at 8:14 AM #90943
LookoutBelow
ParticipantYes to all of the above…..
Iam sure there are some people doing that….I KNOW everybody is at least "thinking about it"….especially those underwater
October 23, 2007 at 8:14 AM #90930LookoutBelow
ParticipantYes to all of the above…..
Iam sure there are some people doing that….I KNOW everybody is at least "thinking about it"….especially those underwater
October 23, 2007 at 8:14 AM #90908LookoutBelow
ParticipantYes to all of the above…..
Iam sure there are some people doing that….I KNOW everybody is at least "thinking about it"….especially those underwater
October 23, 2007 at 8:18 AM #90911anxvariety
ParticipantI’ve heard people joke about setting fires to get out of work.. if it has been joked about then there’s someone that will do it especially to get out from under a 500k debt obligation…
Fire-riot mentality?
October 23, 2007 at 8:18 AM #90933anxvariety
ParticipantI’ve heard people joke about setting fires to get out of work.. if it has been joked about then there’s someone that will do it especially to get out from under a 500k debt obligation…
Fire-riot mentality?
October 23, 2007 at 8:18 AM #90946anxvariety
ParticipantI’ve heard people joke about setting fires to get out of work.. if it has been joked about then there’s someone that will do it especially to get out from under a 500k debt obligation…
Fire-riot mentality?
October 23, 2007 at 8:28 AM #90917justdoitstewart
ParticipantEmotions aside….
Short term, my thinking this may help continue to push prices down…
Long term, I’m wondering how much San Diegans’ home insurance will rise.
October 23, 2007 at 8:28 AM #90952justdoitstewart
ParticipantEmotions aside….
Short term, my thinking this may help continue to push prices down…
Long term, I’m wondering how much San Diegans’ home insurance will rise.
October 23, 2007 at 8:28 AM #90939justdoitstewart
ParticipantEmotions aside….
Short term, my thinking this may help continue to push prices down…
Long term, I’m wondering how much San Diegans’ home insurance will rise.
October 23, 2007 at 8:33 AM #90920Rich Toscano
KeymasterI don’t understand this line of reasoning. If someone’s house burns down, the insurance company pays them for the replacement cost of the home, not the home AND land. This won’t give them anywhere near enough to pay off their mortgages. They are left with an expensive plot of raw land that nobody would buy, just enough money to rebuild the home, their original mortgage debt, and no place to live (although insurance should pay for a rental while they rebuild). How does this bail them out?
rich
October 23, 2007 at 8:33 AM #90954Rich Toscano
KeymasterI don’t understand this line of reasoning. If someone’s house burns down, the insurance company pays them for the replacement cost of the home, not the home AND land. This won’t give them anywhere near enough to pay off their mortgages. They are left with an expensive plot of raw land that nobody would buy, just enough money to rebuild the home, their original mortgage debt, and no place to live (although insurance should pay for a rental while they rebuild). How does this bail them out?
rich
October 23, 2007 at 8:33 AM #90942Rich Toscano
KeymasterI don’t understand this line of reasoning. If someone’s house burns down, the insurance company pays them for the replacement cost of the home, not the home AND land. This won’t give them anywhere near enough to pay off their mortgages. They are left with an expensive plot of raw land that nobody would buy, just enough money to rebuild the home, their original mortgage debt, and no place to live (although insurance should pay for a rental while they rebuild). How does this bail them out?
rich
October 23, 2007 at 8:39 AM #90948justdoitstewart
ParticipantLOL, I totally agree. I guess my thought was most people don’t think like that honestly. They don’t know how it works if their house burns down. I know some floppers that are in trouble and they really think that this could be a “good thing”. I’ve already talked to a few on the phone.
Maybe my title should be different? (Kind of like your title about real estate is not a hedge against inflation)…..j/k
October 23, 2007 at 8:39 AM #90960justdoitstewart
ParticipantLOL, I totally agree. I guess my thought was most people don’t think like that honestly. They don’t know how it works if their house burns down. I know some floppers that are in trouble and they really think that this could be a “good thing”. I’ve already talked to a few on the phone.
Maybe my title should be different? (Kind of like your title about real estate is not a hedge against inflation)…..j/k
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